THE MANAGEMENT AND UTILIZATION OF TAX REVENUE IN ENUGU STATE. (A CASE STUDY OF ENUGU STATE BOARD OF INTERNAL REVENUE ENUGU
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This research study deals on the “the management and utilization of tax revenue in Enugu State (a case study of Enugu State Board of Internal Revenue Enugu).
To start with, the statement of the problem, purpose of the study, research questions and hypotheses were formulated in chapter one based on the objective of this research work.
The research methodology provides an account for the research design, which serves as a guide for data collection. It identifies the basis for generating new ideas, information and technology.
The target population being business organization that are taxable operating within Enugu State.
The source of data were also defined, which are primary and secondary data that were collected in the course of the study.
After the research analysis, among the major conclusion are:
- Government should educate the public on the important of paying their tax as at and when due and also on the danger of tax evasion and avoidance.
- From all indication, it is apparent that greed is the cause of embezzlement of tax revenue so government should device a means of dealing with these greed officials.
TABLE OF CONTENT
1.1 Background of the Study
- Statement of the Problem
- The purpose of the Study
- Significance of the Study
- Research Questions
- Research Hypothesis
- Scope of the Study
- Limitation of the Study
- Definitions of Terms
- Review of Related Literature
2.1 History of Taxation
- Types of Taxes
- Tax Administration in Enugu State
- Tax Collection Machinery in Enugu State
- Problems of Tax Collectors in Enugu State
- Procedures for Nigeria Income Tax Assessment
- Tax as Element of Public Sacrifice
- Research Design and Methodology
3.1 Sources of Data
- Primary Data
- Secondary Data
- Sample Used
- Methods of Investigation
- Analysis of Data
4.1 Analysis Interpretation and Presentation of Data Table
- Test of Hypothesis
- Summary of Findings, Conclusion, and Recommendation
5.1 Summary of Findings
1.1 BACKGROUND OF THE STUDY:
Man, no matter his religion or creed, had always lived communally. In every society, there has been one form of levy or the other imposed on the people from time to time to generate enough resources to improve their well being.
Fundamentally, however, it is of course a compulsory levy (tax) on income since the decision to pay tax is not that of the taxpayer. No rational human being would subject his earnings to tax. People pay tax because the law so stipulates. Also, it is the same fact that make people to look for ways and means bring down their taxable income and consequently their taxes from time to time.
The problem of capital formation in the underdeveloped economies as it relates to public finance, breaks down into three main parts. The first concerns the financing of social overhead investment, which must be undertaken directly by the government. The second deals with an intermediate zone in the actual investment projects are on private hands but the funds are made available through government finance. The third deals with the necessary incentives to private investment both domestic and foreign as they are influenced by taxation and other fiscal.
In the above three categories, government effect is directed towards maximizing savings, mobilizing them for productive investment and directing them so as to serve the purpose of a balanced development program. Taxation is this, a system of moving resources between the different segments of the economy. Whenever tax matters are in discourse, it pre-supposes the existence of government, which is higher authority that controls the actions of the rest of people by imposing taxes on them. To this end, tax is a universal liability and one cannot avoid payment of tax just by avoiding the use of any amenity built with tax money. It is essential therefore for one to understand that some amenities have exclusionary factors. Once cannot say, for instance, that he does not want to benefit from National defence and security. Hence, tax is levied universally to provide such facilities. This is unlike health services, electricity or water supply, which have exclusionary factors. One can always avoid paying water or electricity bills just by abstaining from their consumption.
Furthermore, it is impossible to amounts of benefits derived by a National defence as against that derived by B. in order to ensure equity, therefore, A and B should pay the same amount as tax. The generally determinant of the amount payable by each will not be their personal income. Lawal (1982) said it should be realized that most countries today, the government has become the greatest spender of money. Taxation has not only influenced the economy of the country, it has also become one important instrument of economic policy. This an increase in government spending (tax money) rightly involves a corresponding decrease in individual spending.
The Enugu State Board of Internal Revenue is the department charged with the responsibility of tax collections. This board itself is an annex of the state ministry of finance and Economic Development and utilization of tax revenue. The board of Internal Revenue has powers to assess and subsequent collect taxes from persons, institutions and organizations which Enugu State which is with the exception of limited companies, members of the armed force the police force etc which are within the Federal Government exclusive list.
In less developing economy like Nigeria, the government is finding it increasingly difficult to marched the necessary resources in the right point in time. In underdeveloped economies, tax resources account for about 10 to 15 percent of national income while it goes up 30 to 40 percent in advanced countries. It is thus, common knowledge that the less developed country is, low ratio of tax payments to national income. Hence, the following conditions must exist to ensure efficiency in income taxes.
- Existence of money economy.
- High standard of literary among taxpayers.
- Proper accounting record of tax proceeds.
- Voluntary compliance by taxpayers.
- Political stability.
Honest administration of tax revenu